Speaker Pelosi’s drug pricing bill is anything but a compromise. In reality, it is a poison pill of big government, crippling new taxes, and access restrictions for America’s patients. A far-left San Francisco liberal’s dream – and seniors’ collective nightmare.
Pelosi knows full-well that an immediate, full-scale government takeover of health care and the imposition of socialized medicine stands little chance of becoming law once its true impacts are known to seniors across America. So she has chosen a craftier route – socialist price controls enforced by innovation-killing new taxes.
Socialist price control schemes, coupled with crippling new taxes on medical innovators of up to 95%, would lead to fewer cutting-edge treatments and cures for patients. As in any industry, when government sets prices, there is little incentive to produce a product – especially those that require significant dedication of time and resources on the front end such as new medicines.
But Pelosi’s socialist price controls pose a more immediate threat to patients – and seniors have the most to lose. As has been repeatedly proven in foreign countries, price controls lead to shortages and rationing. Unfortunately for seniors, that translates into access restrictions and government bureaucrats deciding what treatments and care are made available to America’s patients.
Don’t be fooled, seniors: while her drug pricing plan may masquerade as a compromise, when given a closer look, the tools Nancy Pelosi wants to use to remake America’s drug pricing system look increasingly like the hammer and sickle.